Beware of Credit Repair Companies

“I have a few credit cards but 2 of them with a balance of $210. I went into bankruptcy years before but ever since then, I’ve been charging my credit card and paying it off in a few months as I heard this would help my credit. I decided to go to Mexico for vacation and I came back 1 month later. While reviewing my bills, I realized I had missed a payment for my credit card and since I needed to refinance my home I realized that I may be in trouble. A family friend and real estate agent, advised me to go to his friend’s office. His friend had a credit repair business. I paid him $500 trusting his promise of bringing my credit up about 100 points so I could refinance. Weeks went by without any results.”

This is one of many similar stories that I have encountered one too many times with clients that come in my office because they had been misguided by their previous real estate agent or loan officer. Agents and loan officers who trust worthless “credit repair” companies. Read more

July 18th, 2007 · Filed Under Credit Information, Credit Repair scams

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